Peter Sanderson has been in charge at GAM for little more than two months, but the former BlackRock executive has already overseen a number of big personnel changes in his effort to help the Swiss asset manager move on from a bruising period in its near-40-year history.

According to a Bloomberg report on December 2, the asset manager is considering eliminating up to 350 jobs — representing around 40% of GAM’s current 863-strong workforce.